Resort company formations on the up

Peter Valaitis

The first three months of the year saw a steady increase in company formations in Blackpool, according to research out today.

The first quarter of the year yielded a healthy increase in company formations in the Blackpool area.

The figures in the latest Duport Business Confidence Report for the area show there were 513 new companies registered here between January and March.

This represented a nine per cent increase when compared with last year, the report said. In further positive news, company closures fell by 13 per cent, leading to a sharp increase in net company growth (the number of company formations minus the number of closures).

Managing Director of Duport.co.uk, Peter Valaitis (pictured) said:“The number of new companies setting up in Blackpool is a very positive sign for the local economy, suggesting business confidence is on the rise in the region.”

He added that there was less good news when it came to young would-be entrepreneurs and for women directors. He said: “However, it is interesting to note that the report also shows a drop in the number of female company directors and directors under the age of 25 during the period.”